Record Low Level Unemployment

This Barbados Labour Party administration, under the astute leadership of Prime Minister Owen Arthur, has accomplished many of the pledges made in its last three manifestos. Our slogan that “Job #1 is Jobs” continues to be our number one priority and in the face of our fiercest critics we have delivered.

 

The recent news that during the last quarter of 2006 the unemployment rate fell to a record 7.6% was more than welcomed. It is a testimony to those who sincerely believe that this economy is capable of full employment. Who can forget that in 1994, Mr. Arthur, then Opposition Leader said that this economy was indeed capable of producing 30,000 jobs – the number of persons then unemployed. Many will recall how the DLP, in the same way that they treat every serious national issue, scoffed and mocked at our promise to create 30,000 jobs. That promise became the plank of our campaign and today Barbadians are the beneficiaries of its fulfillment. We had faith in our people and their abilities now month after month, quarter after quarter, year after year the unemployment rate continues its downward trend from 24.3% where the Dems left in 1993 to 7.6% in 2006.

 

The BLP is easily recognized for its effective policies on job creation while the Dems continues to advocate a policy of job retrenchment. Barbadians must not forget Estwick’s promise to downsize the public service as an economic instrument to erase the fiscal deficit – a policy for which the DLP has become renowned.

 

In 1975, under a tired and helpless DLP administration, the unemployment rate stood at an all-time high of 27%. A BLP Government, through its enlightened policies reduced it to 10% by 1981. Following the global recession of that year it crept up to 15%. The Dems regained office in 1986 and by 1994 when they were removed it stood at 24.3%. Our record on job creation is second to none for the facts speak for themselves.

 

Jobs are not created by any magic wand. It is done through creative thinking and deliberate policy initiatives. In 1994 we removed the onerous taxes on inputs to both the agricultural and the manufacturing sectors and this allowed those sectors to further improve their physical plant and increase employment. Special attention was also given to the tourist industry. The provisions of the new Small Business Act, the creation of Special Development Areas and other policy initiatives have all contributed to the excellent position this country now experiences. Quite frankly we have lifted the country out of the mess created by the Democratic Labour Party.

 

One of the outstanding features of our low unemployment situation is that persons seeking employment can now do so within the shortest possible time. In fact for the fourth quarter of 2006, more than 50% of the 10,800 persons seeking work did so in less than three months. In short persons entering the job market can meet their expectations in a fairly short period of time.

 

We can find no better way to express the effectiveness of the economy policies of the Owen Arthur administration in providing employment opportunities for Barbadians than the words of the late Rt. Excellent Errol Barrow when he declared that “all over this country from the parapet of Paragon to the panorama of Pico Teneriffe, this (BLP) Government has been able to keep hanging from buildings and bridges, from quarries to conference rooms the notice to all and sundry “Men at Work”.

A Third Term Government In First Term Mode

At a time when most Governments in their third term of office begin to show signs of political fatigue and bankruptcy of ideas, this Barbados Labour Party continues to blaze the trial in transforming the Barbadian society with new and creative policies.

While the DLP’s leadership lives up to it’s expectation of not offering anything politically inspiring to the Barbadians electorate or to it’s disgruntled membership, the BLP has been demonstrating why it is fit and capable to lead this country for the forseeable future.

The DLP under the politically feeble leadership of Thompson continues to genuflect on the issue of providing some ideas as to where it would want to take Barbados if ever it were to form the next government. The excuse often given is that their ideas would be stolen. We beg to differ. The lack of political thinkers within the DLP at this stage of their political life would make any ideas stolen from them nothing more than an act of petty larceny. A charge for which this Government or any right thinking Barbadian would certainly want to avoid.

Can anyone recall a single worthwhile idea or policy initiative implemented by the DLP or David Thompson since Barrow’s death that would cause anyone to think that an idea conceived by them is even worthy of stealing. We invite Barbadians to check with any of the libraries of our Universities across the region or any other institution that stores the views and comments of this region’s well known thinkers and intellectuals and tell us if the name David Thompson features. Not Once. This speaks volumes about the man who now wants to lead a people whose intellectual appetite and political graving has been stimulated by the likes of Sir Grantley, Errol Barrow, Tom Adams and Owen Arthur.

A Bill that can only be describe as the ultimate piece of social ingenuity was passed in the lower house on Tuesday, February 13, 2007 by a third term Government in a first term mode. The Bill establishes the Catastrophe Fund to provide insurance coverage for persons who own chattel houses and for whom the state has had to intervene to ensure that in the event of a catastrophe they would be adequately provided for.

It was clear from the level of the Opposition’s contribution that they neither understood nor appreciated the objective of the Bill. When Estwick, lead spokesman on economic matters can advance the argument that a catastrophe fund is useful only when the economic viability of the country is at risk then clearly the DLP is not only ripped from its philosophical moorings but is now far adrift in the sea of politics of negrocratism. How can a party that claims that it represents working class people have a difficulty with a fund that protects the housing stock of poor black working class Barbadians?

In a classical display of ignorance and misunderstanding of the structure of the Bill Estwick argues that there is an over-reliance on the NIS Fund. If after reading the Bill presented to him in its entirety he arrived at that conclusion then it is quite possible that Estwick may have a problem for which early childhood education failed to discover.

Whatever the DLP’s reason for not fully supporting the Bill Barbadians can be assured that this BLP Government will press on with its progressive policies and programmes for the further advancement of our people.

The Doctor Strikes Again

If we listen to Dr. David Estwick speaking we could only come to the perception that he believes that he alone is right and the rest of the world is totally wrong when it comes to analysing the Barbados economy. Such arrogance is unparalleled in the political history of this country and speaks volume on the way Estwick sees himself and the utter contempt he has for other people’s training and views.

We are not going to concern ourselves about who knows the most economics and how much training they had, that would serve no useful purpose. The fact of the matter is that all observers, local and overseas are agreed on the fact that the Barbados economy is performing very well indeed and that real benefits are accruing to the people of this country. They are amazed at the high level of professionalism and the detail paid to sound economic fundamentals.

Is Estwick saying that the Central Bank is wrong? Is the good Doctor saying that the IDB, the CDB, the World Bank and all the other agencies have got it so dreadfully wrong? Is he saying that the rating agencies have all of a sudden lost their objectivity and are painting a false picture of the Barbados economy? Is he saying that Professor Frank Alleyne, a man with over thirty years experience as a trained economist and whose DLP credentials are solid, would all of a sudden falsify information on the local economy? The real question is what does Estwick think he knows that the others do not?

There is absolutely no reason for persons to lie about the Barbados economy, that would do no one any good. Any worthy administration would want the correct information and full disclosure about the economy so that corrective action could be taken as soon as possible. We all felt what would result if sensible action is delayed. If there is any doubt check with Sir Lloyd Sandiford and his pal David Thompson who presided over the 1991 fiasco that caused so much damage to this country.

The international agencies have no reason to falsify data on Barbados. After all, this BLP administration, so ably led by Prime Minister Arthur, has gone against IMF dogma when the crisis of 2001 occurred. The result is history and that bold action allowed this country to emerge from the crisis without any significant loss of jobs and with the social sector very much intact. It was a slap in the face for the bureaucrats in those organizations.

The rating agencies have their own reputation and their clients’ interest to protect. When they give a rating, they know that the rest of the world would be taking note and would be making decisions thereon. They know that any incorrect information could prove disastrous and the consequences for them could be severe. They would lose big time if they are proved patently wrong.

The truth of the matter is that the Barbados economy will always need careful treatment. We have all witnessed and experienced the result of bad economic decision making. It is for this very reason that we simply cannot afford someone like Estwick running our financial and economic affairs. His utterances have not shown him a either a sensible economic manager or even one will listen and hence can be trained. His total arrogance and the large chips he carries on his shoulders would prevent him from even seeking sound advice. It is no wonder that David Thompson is so urgently seeking for someone to give the doctor some lessons in economics. Perhaps some lessons in humility could serve as a prerequisite.